The Djibouti insurance market size reached US$ 31.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 58.5 Million by 2032, exhibiting a growth rate (CAGR) of 7% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 31.3 Million |
Market Forecast in 2032
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US$ 58.5 Million |
Market Growth Rate 2024-2032 | 7% |
Insurance stands for a contractual arrangement offered by a firm providing a guarantee of reimbursement for any specified loss or damage. It provides financial protection and hedges the risks of any uncertain incidents. The Djibouti insurance market includes both life and non-life insurance (automobile, marine insurance, liability, others) policies. The insurance sector in the country is regulated by the insurance directorate at the Ministry of Economy and Finance.
The Djibouti insurance sector is expected to grow at a considerable pace owing to the improving socio-economic growth of the country, increasing penetration of international insurance companies, the launch of governmental insurance policies, and the bolstering port activities in the region. The Port of Djibouti is strategically located at the crossroads of one of the busiest shipping routes in the world, linking Europe, the Far East, the Horn of Africa, and the Persian Gulf, thereby propelling the trade activities. In Djibouti, the motor and cargo insurance has been made compulsory by the authorities; for instance, the COMESA Yellow Card Scheme is integrated with the regional network of automobile insurance companies, thereby bolstering the demand for non-life insurance policies. Additionally, the increasing disposable income levels, supported by several government insurance policies, are expected to propel the development of the personal insurance sector that will contribute to the overall insurance market in the region.
IMARC Group provides an analysis of the key trends in each sub-segment of the Djibouti insurance market report, along with forecasts for the period 2024-2032. Our report has categorized the market based on type.
Breakup by Type:
The report has also examined the competitive landscape of the market and some of the key players include AMERGA Assurance and GXA Assurances SA.
Report Features | Details |
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Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | US$ Million |
Segment Coverage | Type |
Companies Covered | AMERGA Assurance, GXA Assurances SA |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |